Masot: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Masot
Largest movements
- Receivables within one year +€51,809
up €51,809 (+17.6%), from €294,833 to €346,642
of which Other amounts receivable: +€83,881
- Cash +€10,366
up €10,366 (+80.2%), from €12,931 to €23,296
mainly Net result for the year (+€86,650) and Depreciation (+€13,336)
- Deferred charges and accrued income +€9,582
up €9,582 (+72.5%), from €13,209 to €22,791
- Financial fixed assets +€8,400
up €8,400 (+18,667%), from €45 to €8,445
- Profit (loss) carried forward +€86,650
up €86,650 (+42.0%), from €206,218 to €292,867
- Current portion of long-term debt -€14,665
down €14,665 (-49.4%), from €29,660 to €14,995
- Short-term financial debts +€6,543
up €6,543 (+97.9%), from €6,687 to €13,230
- Debts after one year -€6,260
down €6,260 (-100%), from €6,260 to €0
- Trade debts +€4,885
up €4,885 (+24.1%), from €20,273 to €25,159
- Gross operating margin -€77,026
down €77,026 (-35.9%), from €214,563 to €137,537
- Taxes -€21,099
down €21,099 (-41.3%), from €51,092 to €29,992
- Financial charges -€2,695
down €2,695 (-22.3%), from €12,087 to €9,392
- Other operating charges +€2,630
up €2,630 (+95.2%), from €2,762 to €5,391
- Depreciation +€2,422
up €2,422 (+22.2%), from €10,914 to €13,336
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €350,682 | €429,320 | +€78,638 | +22.4% |
| Fixed assets | 21/28 | €29,710 | €36,591 | +€6,882 | +23.2% |
| Tangible fixed assets | 22/27 | €29,665 | €28,146 | -€1,518 | -5.1% |
| Land and buildings | 22 | €2,500 | €1,941 | -€559 | -22.4% |
| Plant, machinery and equipment | 23 | €17,356 | €9,098 | -€8,258 | -47.6% |
| Furniture and vehicles | 24 | - | €2,360 | +€2,360 | |
| Other tangible fixed assets | 26 | €9,808 | €14,747 | +€4,939 | +50.4% |
| Financial fixed assets | 28 | €45 | €8,445 | +€8,400 | +18,667% |
| Current assets | 29/58 | €320,972 | €392,729 | +€71,756 | +22.4% |
| Amounts receivable within one year | 40/41 | €294,833 | €346,642 | +€51,809 | +17.6% |
| Trade receivables | 40 | €157,943 | €125,871 | -€32,073 | -20.3% |
| Other amounts receivable | 41 | €136,890 | €220,771 | +€83,881 | +61.3% |
| Cash at bank and in hand | 54/58 | €12,931 | €23,296 | +€10,366 | +80.2% |
| Deferred charges and accrued income | 490/1 | €13,209 | €22,791 | +€9,582 | +72.5% |
| Total equity and liabilities | 10/49 | €350,682 | €429,320 | +€78,638 | +22.4% |
| Equity | 10/15 | €214,278 | €300,927 | +€86,650 | +40.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,218 | €292,867 | +€86,650 | +42.0% |
| Amounts payable | 17/49 | €136,405 | €128,393 | -€8,012 | -5.9% |
| Amounts payable after more than one year | 17 | €6,260 | €0 | -€6,260 | -100% |
| Financial debts | 170/4 | €6,260 | €0 | -€6,260 | -100% |
| Amounts payable within one year | 42/48 | €130,145 | €128,393 | -€1,752 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €29,660 | €14,995 | -€14,665 | -49.4% |
| Financial debts | 43 | €6,687 | €13,230 | +€6,543 | +97.9% |
| Credit institutions | 430/8 | €6,687 | €13,230 | +€6,543 | +97.9% |
| Trade debts | 44 | €20,273 | €25,159 | +€4,885 | +24.1% |
| Suppliers | 440/4 | €20,273 | €25,159 | +€4,885 | +24.1% |
| Taxes, remuneration and social security | 45 | €73,525 | €75,009 | +€1,484 | +2.0% |
| Taxes | 450/3 | €73,525 | €73,501 | -€23 | 0.0% |
| Remuneration and social security | 454/9 | - | €1,507 | +€1,507 | |
| Remuneration, social security and pensions | 62 | €0 | €81 | +€81 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,914 | €13,336 | +€2,422 | +22.2% |
| Other operating charges | 640/8 | €2,762 | €5,391 | +€2,630 | +95.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €214,563 | €137,537 | -€77,026 | -35.9% |
| Operating profit (loss) | 9901 | €200,887 | €118,728 | -€82,160 | -40.9% |
| Financial income | 75/76B | €5,268 | €7,306 | +€2,038 | +38.7% |
| Recurring financial income | 75 | €5,268 | €7,306 | +€2,038 | +38.7% |
| Financial charges | 65/66B | €12,087 | €9,392 | -€2,695 | -22.3% |
| Recurring financial charges | 65 | €12,087 | €9,392 | -€2,695 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €194,068 | €116,642 | -€77,426 | -39.9% |
| Income taxes | 67/77 | €51,092 | €29,992 | -€21,099 | -41.3% |
| Profit (loss) for the period | 9904 | €142,976 | €86,650 | -€56,327 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €142,976 | €86,650 | -€56,327 | -39.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.